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Dallas ranks among wealthiest cities in the world as millionaire count grows

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Dallas ranks among wealthiest cities in the world as millionaire count grows


Dallas is the 22nd most wealthy city in the world as its number of millionaire residents has grown by 75% in the past decade.

The city is home to 68,600 millionaires amid a period of booming economic growth, according to a report from London-based private investment migration consultancy firm Henley & Partners. It’s the sixth wealthiest city in the United States sitting behind fierce competition like New York City, Los Angeles and Chicago.

27 Texans make Bloomberg’s Billionaires 2024 index as more rich Americans move to Texas

It’s not the only Texas city to make the list. Houston ranks above Dallas as the fifth wealthiest U.S. city with 90,900 millionaires and Austin is tenth in the U.S. with a millionaire count of 32,700.

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It’s not just millionaires contributing to the wealth. Centimillionaires, individuals with a net worth over $100 million, are prominent in Dallas as well with 125 of them residing in the city. There’s also 15 billionaires living in the city like oilman Ray Hunt, philanthropist Margot Perot, Dallas Cowboys owner Jerry Jones and Dallas Mavericks minority owner Mark Cuban.

Dallas also plays host to 11 Fortune 500 companies like telecommunications titan AT&T, Southwest Airlines and pipeline transportation giant Energy Transfer.

Those companies are part of Dallas’ special sauce which attracts individuals with deep pockets, said Ray Perryman, CEO of the Waco-based research firm, The Perryman Group.

“Dallas has long been the economic center of the Sun Belt in terms of trade, transportation, finance and other sectors,” he said. “It has also become a major center for technology in recent decades. It also has a substantial concentration of Fortune 500 headquarters and, although not a production area, has traditionally attracted a large segment on the ownership of Texas’ vast oil and gas reserves.”

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Beyond the region’s traditional companies, the city has caught the eyes of private equity firms from neighboring states and beyond.

But the job isn’t finished yet. The city recently passed its bond package, including Proposition G. It’s a $72.3 million package that is aimed at boosting economic development through incentives and grants. It was a key portion of the city’s bond package and gives lawmakers an additional tool to entice companies to look to Dallas as a potential new home for its headquarters.

The package also guarantees that $36.6 million of that will go to mixed-income housing, a crucial piece in getting companies to make Dallas a national competitor as the fight for company relocations continues, said Paul Ridley, District 14 city council representative.

“That will have a long-term effect of increasing the supply of affordable housing in Dallas,” he said. “That by itself can attract companies here. They want to perceive that the housing market is less expensive from where they’re relocating from and that there are places for their employees at all income levels to find housing.”

Strong companies along with the city’s dynamic culture means its long-term wealth trajectory is still headed in the right direction, Perryman said.

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“It is only natural that the leaders in these sectors would tend to live in the area, often spanning generations of family members,” he said. “In addition, the area offers outstanding cultural, entertainment, sports and other opportunities that make it an attractive place to live. All of these factors combine to make Dallas a natural landing place for successful individuals and families.”

Amid demographic shifts, the country’s workforce needs immigrants

The most recent Budget and Economic Outlook report from the Congressional Budget Office projects that economic growth between 2024 and 2034 will be higher than previously projected. The primary reason for this change, the report notes, is greater net immigration, particularly for people in their prime working years, ages 16 to 54. The report notes that 91% of immigrants are between the ages 16 to 54, a far greater portion than the 62% of the overall population.

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In states such as Idaho and Texas, where funding for early childhood education is limited, some schools are spearheading initiatives to provide quality, affordable child care. It’s a retention tool as much as it is a way to ensure youngsters are prepared when they enter kindergarten.



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Dallas, TX

Hip-hop hitmaker Cardi B coming to AAC in Dallas

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Hip-hop hitmaker Cardi B coming to AAC in Dallas


Cardi B, one of hip-hop’s most outsize personalities — and one of its most reliable hitmakers — is coming to Dallas.

The New York City-born rapper broke through in 2017 with the hit single “Bodak Yellow,” launching a chart-topping run that soon included “I Like It” and the blockbuster hit “WAP.” Her Grammy-winning debut album, Invasion of Privacy, cemented her as a defining voice in contemporary rap, blending brash humor, confessional storytelling and club-ready production.

The 33-year-old’s success helped boost the profile of women in a genre long dominated by men, encouraging record labels to sign more female rappers. She has frequently teamed up with rising female artists, including GloRilla, FendiDa Rappa and “WAP” collaborator Megan Thee Stallion.

Cardi’s stop at American Airlines Center is part of the arena run supporting her second studio album, 2025’s Am I the Drama? Recent shows in the “Little Miss Drama Tour” have leaned into spectacle, with elaborate staging, surprise guest appearances and a set list that spans her entire career.

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Fans can expect a high-energy performance built around booming trap beats, pop hooks and Cardi’s signature unfiltered banter — the same mix that has helped her sell out dates across the tour and turn concerts into party-like events.

DETAILS: March 7 at 7:30 p.m. at American Airlines Center in Dallas. Tickets start at $334.10, but some verified resale tickets are cheaper. ticketmaster.com.

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Pop legend Diana Ross performs March 7 at the WinStar World Casino in Thackerville, Oklahoma.

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OTHER CONCERTS

Bluesy psychedelic rock band All Them Witches performs March 7 at House of Blues Dallas.

Bluesy psychedelic rock band All Them Witches performs March 7 at House of Blues Dallas.

Travis Pinson

ALL THEM WITCHES March 7 at 8 p.m. at House of Blues Dallas. ticketmaster.com.

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DIANA ROSS March 7 at 8 p.m. at WinStar World Casino in Thackerville, Okla. winstar.com.

RICH BRIAN March 7 at 8 p.m. at The Bomb Factory in Deep Ellum. axs.com.

TRACE ADKINS March 7 at 10 p.m. at Billy Bob’s Texas in Fort Worth. billybobstexas.com.

AFROJACK March 8 at 3 p.m. at It’ll Do Club in Deep Ellum. eventbrite.com.

LITHE March 8 at 8 p.m. at House of Blues Dallas. ticketmaster.com.

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CONAN GRAY March 10 at 8 p.m. at Dickies Arena in Fort Worth. ticketmaster.com.

MATISYAHU March 10 at 8 p.m. at the Granada Theater in Dallas. prekindle.com.

OUR LADY PEACE, WITH THE VERVE PIPE March 12 at 8 p.m. at Tannahill’s Tavern and Music Hall in Fort Worth. ticketmaster.com.

PAUL WALL March 12 at 9 p.m. and March 13 at 10 p.m. at Billy Bob’s Texas in Fort Worth. billybobstexas.com.



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GOP candidates for Texas House face off in Collin County, Park Cities, North Dallas

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GOP candidates for Texas House face off in Collin County, Park Cities, North Dallas


The fiercest legislative primary fights Tuesday in North Texas were inside the GOP.

In Dallas County, two moderate GOP incumbent representatives faced challengers after being censured by their own county party.

In Collin County, several Republican state House members were fending off rivals running to their right.

The Dallas Morning News will provide live election results this evening when the polls close at 7 p.m. Results will be updated throughout the evening for statewide races and Dallas, Collin, Denton, Ellis, Kaufman, Rockwall and Tarrant counties.

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Dallas County, House District 108

Republican Morgan Meyer, first elected in 2014, was challenged by attorney Sanjay Narayan in a district that includes the Park Cities, Oak Lawn and Preston Hollow.

Narayan criticized Meyer for backing renewable energy expansion and for being censured by the Dallas GOP last year.

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Meyer was among House Republicans targeted after disputes over the House speaker vote and chamber rules. He and other lawmakers called the censure effort unconstitutional.

In the campaign, Meyer focused on property tax relief and emergency preparedness after the Camp Mystic tragedy.

Small business owner Allison Mitchell is unopposed in the Democratic primary.

Dallas County, House District 112

Republican Angie Chen Button, who has represented the district covering parts of Dallas, Richardson and Garland since 2009, drew three primary opponents.

Button has highlighted her support for small businesses and public schools and her bipartisan record. A senior member of the Ways and Means Committee, she would play a key role in the state’s property tax debate if reelected.

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Dallas-area delegation in the Texas House of Representatives on Sunday, May 30, 2021, showing State Rep. Angie Chen Button, R-Garland, in the chamber.

Bob Daemmrich / Bob Daemmrich/CapitolPressPhoto

Opponents Chad Carnahan and Tina Price attacked Button for being censured by the Dallas GOP last year, a move she and other lawmakers have criticized as an internal party power struggle.

Carnahan, a businessman, said he wants to lower property taxes and prevent Shariah in Texas.

Price said she would improve public schools and spur the re-use of old buildings. Also in the GOP race: Perry E. Barker Sr.

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Democrat Zach Herbert was unopposed.

Collin County, House District 61

Two Republicans are seeking to represent the district that covers most of McKinney and parts of Frisco and Celina.

Incumbent Keresa Richardson, who was elected in 2024, and former state Rep. Frederick Frazier both support eliminating property taxes.

Richardson, an entrepreneur, said she would expand the Texas voucher-like program for education.

Frazier, a former police officer and McKinney City Council member, was more cautious about expanding the program.

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Frederick Frazier speaks as Rep. Keresa Richardson looks on during a candidate forum for...

Frederick Frazier speaks as Rep. Keresa Richardson looks on during a candidate forum for Republicans in Collin County ahead of the March primary election at Prestonwood Baptist Church in Plano, Texas, Tuesday, February 10, 2026.

Anja Schlein / Special Contributor

Two political newcomers, Jackie Bescherer and Brittany Black, are running in the Democratic primary. Both oppose Texas’ voucher program and vow to increase public education funding.

Collin County, House District 67

Republican Rep. Jeff Leach, first elected in 2012, faces Matt Thorsen in a district that includes parts of Plano, Allen, McKinney and Melissa.

Leach has highlighted his conservative record, including legislation barring Shariah in Texas courts. He also served as a House impeachment manager during Attorney General Ken Paxton’s 2023 trial, a role he has defended amid backlash from activists.

Thorsen, a small business owner and former youth pastor, helped lead the effort to censure Leach last year. He has criticized Leach’s impeachment role and accused him of siding with Democrats on House rules.

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Both support eliminating property taxes, expanding education savings accounts and oppose the development formerly known as EPIC City. Two Democrats are also running, though the district has leaned Republican.

Collin County, House District 70

Three Republicans are competing for the nomination to run against incumbent Democrat Mihaela Plesa, who is running unopposed in her party’s primary.

Democrat Mihaela Plesa responds to questions during a District 70 Candidate Forum hosted by...

Democrat Mihaela Plesa responds to questions during a District 70 Candidate Forum hosted by Raise Your Hand Texas at Plano ISD Academy High School in Plano on Wednesday, Oct. 19, 2022.

Liesbeth Powers / Staff Photographer

George Flint, a former district judge and Collin County Republican Party Chair, emphasized eliminating property taxes and securing the border in his campaign.

Jack Ryan Gallagher, an attorney, said he would attract companies to North Texas, improve public schools and partner with local law enforcement if elected.

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Michael Hewitt, an attorney, said he would gradually lower property taxes and work to keep Texas a business-friendly state.

The district includes parts of Plano, Richardson and Far North Dallas.



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Dallas Fed says ‘older, experienced workers’ likely have less cause for concern about AI job displacement

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Dallas Fed says ‘older, experienced workers’ likely have less cause for concern about AI job displacement


Artificial intelligence hasn’t yet triggered the broad job losses many feared — at least not for experienced workers.

That’s the takeaway from a new analysis by J. Scott Davis, an assistant vice president at the Federal Reserve Bank of Dallas, who examined employment and wage trends in industries most exposed to artificial intelligence.

Davis argues the data tell a more nuanced story — one that’s challenging the traditional career ladder, and helping older employees earn a bit more.

Since ChatGPT’s debut in late 2022, overall US employment has risen about 2.5%, according to Davis’ analysis, which uses an AI exposure index developed by researchers and published in the Strategic Management Journal. At the same time, employment in the sectors most exposed to AI has slipped by roughly 1%.

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Wages tell a different story. The average weekly pay nationwide has climbed 7.5% since fall 2022. And across the most AI-exposed industries, wages have grown faster, up 8.5%.

If AI were simply replacing workers, both employment and wages would likely be falling, Davis wrote.

Instead, Davis points to a divide between “codified” knowledge — the kind learned from textbooks and in university courses — and “tacit” knowledge gained from hands-on work experience.

“Returns on job experience are increasing in AI-exposed occupations,” Davis wrote. “Young workers with primarily codifiable knowledge and limited experience will likely face challenging job markets.”

Using Bureau of Labor Statistics data, his analysis found that the occupations most exposed to AI tend to offer larger pay premiums for experienced workers.

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In roles with less hands-on experience, AI exposure is associated with weaker wage growth, he wrote.

Workers under 25 in AI-exposed industries have also experienced employment declines, according to Davis’ analysis.

“There appears to be less cause for concern about widespread job displacement for older, experienced workers,” he wrote.

A less dire picture… so far

The findings offer a counterpoint to the more apocalyptic predictions about AI’s impact on the labor market.

Last week, Citrini Research published a memo, written from the hypothetical perspective in 2028, that theorized how AI could crush the US jobs market and trigger a broad-based market collapse.

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“What if our AI bullishness continues to be right…and what if that’s actually bearish?” the memo asked.

Top executives inside the AI companies are worried about jobs, too.

Dario Amodei, the CEO of Anthropic, the company that runs Claude, warned that AI could eliminate 50% of entry-level office jobs. OpenAI’s head of product, Olivier Godement, said the life sciences, customer service, and computer engineering industries were all about to get automated. And Boris Cherny, the creator of Claude Code, said that he doesn’t believe the job title “software engineer” will exist next year.

For now, at least, the Dallas Fed paints a different picture of today’s jobs market. It points to less mass displacement and market ruptures — and more power for employees who already have their foot in the door.

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